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20121222
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as the fiscal cliff deadline loomed, january first. it would mean more than $600 billion in across-the-board tax increases and automatic spending cuts. >> come the first of this year, americans will have less income than they have today. if we go over the cliff, and it looks like that's where we're headed. >> warner: this morning, the senate's democratic majority leader, harry reid, was blunt about chances for a deal. and he blamed house speaker john boehner. just before christmas, boehner floated his so-called "plan b"-- letting taxes rise on millionaires. but faced with opposition in republican ranks, he pulled it, and sent the house home for the holiday. reid charged today politics explained why the speaker had not yet called the house back. >> john boehner seems to care more about keeping his speakership than keeping the nation on a firm financial footing. it's obvious what's going on. he's waiting until january 3 to get reelected to speaker before he gets serious about negotiations. >> warner: a boenhner spokesman shot back, "harry reid should talk less and legislate more." but late today,
of steinberg global asset management. and warren buffett, the oracle of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about the fiscal cliff. speaking to reporters from the white house he said he's ready and willing to get a comprehensive packageone,ut it's up to republicans and democrats to make it happen. >> nobody gets 100% of what they want. everybody has to give a little. >> susie: the president also proposed a smaller package that prevents taxes for 98% of americans from going up and for unemployment insurance to be extended. he pressed lawmakers to agree on this in the next ten days. darren gersh has details. >> reporter: one day after the collapse of efforts to avoid the fiscal cliff, all sides were speaker boehner tried to shift that burden, saying democrats unemployment insurance to be extended. >> we can't cut our way to prosperity we need real economic growth. and many of us believe on both sides of the ai
chuck kagel and make it to the pentagon? >> the house did not take up the tax measure today because it did on have suffient support from our members to pass. house speaker john boehner's statement thursday evening as he stood in print of the republican conference, he recited the serenity prayer. god, grant me theereny to acpt the tngs which i cannot change and close the house for business until after christmas. there is no place like an empty house for the holidays. thus diane john boehner's plan b, which was destined to die anyway. >> let me be clear. speaker boehner's plans are nonstarters in the senate. >> boehner appeared friday morning and said, if this thing were easy, it would have been done decades ago. >> i am interested in solving the major problems that face our country. that means house leaders, senate leaders, and the president, are going to have to continue to work together to address those concerns. >> the president lifted his number to 400,000, no tax hikes for anyone making less than that, boehner says the million, still no deal. what happened out there? >> he did n
may not be able to file their returns until late march. that would mean long delays for many tax refunds. and economists warn the economic effects will be felt quickly if $600 billion in automatic tax increases and spending cuts begin to take effect next year. at this rate, it looks like lawmakers will celebrate new year's eve at work-- if not resolving the fiscal cliff, at least trying to avoid the blame. darren gersh, nbr, washington. >> susie: going over the fiscal cliff will not only have an impact on the national level, it will also hit states and eventually cities. if lawmakers fail to reach a deal before january 1, the cliff's across the board spending cuts and tax increases will impact how much money states get from the federal government. ruben ramirez reports from washington. >> reporter: we all know the numbers. failing to reach a deal by january 1 will result in $109 billion in automatic cuts to federal spending. and while that's a big number, what matters most to states and municipalities is the small print, detailing just where those cuts will happen. and standard &
the latest on the chances for a breakthrough-- just four days before automatic tax hikes and spending cuts hit. >> brown: then, we turn to india. ray suarez looks at the violent protests and public anger sparked by the gang rape of a young woman. >> warner: john merrow has the story of a group of california charter schools that aim to be the model-ts of education. >> america has lots of terrific schools. people open great schools every year, but they typically open just one. nobody has figured out how to mass produce high quality, cost effective schools. >> brown: we remember general norman schwarzkopf-- the man who commanded american-led forces in the persian gulf war known as "desert storm." >> warner: plus, mark shields and david brooks analyze the week's news. >> brown: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: >> support also comes from carnegie corporation of new york, a foundation created to do what andrew carnegie called "real and permanent good." celebrating 100 years of philanthropy at carnegie.org. >> and with the ongoi
: kwame holman dates washington's spending and tax stalemate after house republicans decide not to follow the leader. >> brown: and mark shields and michael gerson analyze the week's news. >> woodruff: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> bnsf railway. >> support also comes from carnegie corporation of new york, a foundation created to do what andrew carnegie called "real and permanent good." celebrating 100 yrs philanthropy atarnee.org. >> and with the ongoing support of these institutions and foundations. and friends of the newshour. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: the remaking of the obama administration's foreign policy team began today as the president nominated massachusetts senator john kerry to replace hilary clinton as secretary of state. the former presidential candidate who lost to george w. bush in 2004 got the nod after u.n. ambassador susan rice withdrew her name. she'd face
of the year when people are making their decisions about whether they're going to get tax breaks or who they're going to give to. are people looking at the fiscal cliff and saying "i don't know"? >> absolutely. people are uncertain as to whether there's going to be a charitable deduction next year, things like the estate tax will change. so it's a rocky time. so some people are giving more and deciding "i'm going to get the tax break now and do it while it's a good thing for sure" and some people are putting off the decision deciding they isle give more later. so we're seeing a mixed bag but it's a tough time because this is the time of year when most people are doing a lot of charitable giving. >> ifill: let me get your name right this time, jackie, and ask you about federal employees. they are affected by this. there are furloughs, cutbacks, tell me what people are thinking. >> well, federal employees are in the unuely bad position of facing peril regardless of whether there's a deal. or whether sequestration and the fiscal cliff occurs. >> ifill: the across-the-board cuts. why does it wor
the economy and energize japan. >> translator: i want a new cabinet to use tax-free on the tsunami survivors. i really have a high expectation about this. >> translator: i want a new administration to listen to the voices of young people and do something new because nothing really seems to have changed. >> abe takes charge as japan is embroiled in some difficult relations with its neighbors. a former u.s. official hopes the new government will rebuild regional ties and those with the u.s. former deputy secretary of state james steinberg was a leading advocate for the asia pacific region. he welcomed abe's plan to make his the first foreign destination. >> i think there's no substitute for leader to leader discussions. given the delicacy and importance of issues in east asia now. >> steinberg expressed the concerns over the senkaku islands. japan controls the islands in the east china sea. china and taiwan claim them. >> the re-elected leader in the united states and new leaders in all three majorountries of northeast asia. this is an opportunity to take a step back and get a new perspective
of expanded taxes in 2013 to do some of the other paying for the things that will nap 2014. wealth yearl people will see an additional tax-- an additional medicare tax. their payroll tax will if up by .9%, and there label tax for the first time on non-wage income in medicare for people who earne. over $200,000 for an individualo $250,000 for a couple. there will be a tax on investment income for the first time. there will also be a limit onpe what you can put aside in the so-called flexible spendings account. these are places you can putan pretax money. basically it hundreds you pay for things that your insurance doesn't cover, things liketi orthodontia, perhaps, or eye glass or your deductibles and co-pays on your insurance plans.,0 usually there could be no limitn or a large limit of $5,000, $6, 000, and that's being cut toar $4500. those are a couple of thingshi people will experience next20 year. >> suarez: which means you'll have plenty of work to do in 2013. >> i will have plenty of work to do in 2013. >> suarez: npr's julie rovner, thanks a lot. it >> ifill: next, protecting civil
have extended tax breaks for everyone making less than a million dollars a year. >> it's the mother of all debacles. that was brought up in an effort to send us something. he couldn't even pass it among the republicans it was so absurd. he meaning the speaker. so it's very clear now mr. president that the speaker's number one goal is to get elected speaker on january 3. >> reporter: january 3 is the deadline for the new congress to start work. if a fiscal cliff fix isn't passed by then, the start of a new congress will likely delay matters even more. which is why the focus now is on reaching a nano-deal. >> the minimal that they can put together to avoid the fiscal cliff which will have sadly almost no impact on the long- term debt trajectory, but right now, neither markets nor the congress care about that. >> reporter: congress has never been terrific at long-range planning, but now the definition of long range seems to be 48 hours. >> you don't hear people talking, well a year from now, we allyeed to be here. you hear, well we need to do that this week. we need to do that day afte
will roil the economy with a series of fights over taxes, government shut downs and debt limit increases. >> i actually had one hedge fund manager say to me, "oh, they'd never allow to go over the cliff, because they, they being members of congress, would be embarrassed by this. and i don't think wall street understands what it actually takes to embarrass a member of congress on the kinds of issues. >> reporter: if an agreement isn't reached by january 3, the new congress will have to deal with the problem, potentially delaying action even further. darren gersh, "n.b.r.," washington. >> susie: our guest tonight is bullish for 2013. he's wayne kaufman, chief market analyst at john thomas financial. >> so, wayne, give us your bullish case. make the case for us for why you see the dow and the sep up by as much as 12% in 2013. >> well, i do think there's a very good chance that the major index is the s&p and the dow make new all-time highs, sometime in 2013. you have been going over the housing market doing much better but the entire construction industry, the whole building sector is also d
payments. japan also plans to double consumption tax to 10% by october 2015. but the international monetary fund says a minimum of 15% is needed for full fiscal rehabilitation. the new government says it will first tackle economic recovery and plans to draft an extra budget for the current fiscal year. >>> populous, prosperous, pushing ahead. china's rise brought it wealth, power, and problems. an income gap divides its people. pollution threatens their health. and disputes at sea strains relations with its neighbors. find out the challenges china faces, on "newsline." >>> traffic in china is said to be more of a free-for-all than an orderly procession. motorists often ignore other motorists and pedestrians too, and the pedestrians also play fast and loose with the rules. one result, lots of accidents. so authorities are taking action. nhk world's takafumi terui has the report. >> reporter: red lights don't stop these pedestrians. and crossings, who needs them? as for drivers, when they change lanes, they barely give a thought to other motorists. not a day goes by in chinese cities without
an agreement to head off huge tax hikes on january first, but he also warned lawmakers to get their work done. >> the american people are not going to have patience with a self-inflicted wound on the economy. >> reporter: senate republican leader mitch mcconnell called the white house meeting a good one and he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there, it seems unlikely that we're going to get something done before the end of the year. >> susie: you know thanks for that report. i am just wondering from all of the reporting you have done, do you think we are better off with a badeal than no deal at all? >> you know susie when peopletal they
days, a decree went out from caesar augustus that all the world should be taxed. >> jesus was born during the reign of the emperor augustus in the sort of a booming economy of the pax romana, the roman peace. and on every coin that augustus had were the words, divi filius, "son of the divine one"-- julius caesar-- son of god. >> this is on every billboard in the mediterranean world. he is the savior of the world, and he brings the peace. now, you may have scruples about how he brings the peace, but he brings peace to rome and as the saying goes in latin, "peace to the rome and quiet to the provinces." >> ( dramatized ): this is he, augustus caesar, son of a god, who shall restore the golden age and spread his empire. >> narrator: rome's empire spread across the mediterranean, sweeping through north africa and reaching as far west as spain. to the east, it encompassed egypt, turkey, greece, and palestine, where jesus was born in the jewish land of judea, then ruled by king herod. >> in judea, the king, herod, was in effect a client king. he ruled almost in place of rome. he was the.
oakland has already heavily invest in system to tax and regulate dispensaries. >> we laugh a great deal of time and energy and money setting up this system that is consistent with california law. and is a tragic way of the government's resources. >> but others say potash shops never should have been able to open 2349 first place. >> federal law, law of the land or is it law, that's the bottom line. >> carla lowe is citizens against legalization of marijuana. a lobbying group based in sacramento. pot is unsafe and ineffective. not a -- an 'digtive, dangerous drug. >> not a medicine. always been a joke, a cruel hoax, always has been, always will be. f.d.a. will never approved it for any product to be deemed a medicine. >> with the recent legalization of medical marijuana in washington and colorado national leaders are re-examining pot policies. the justice department soon expected to issue a response which now allow adults 21 and old torepossess up to one ounce legally. on capitol hill, senate judiciary chairman patrick leahy called for congressional hearings on the issue and for his
Search Results 0 to 19 of about 20 (some duplicates have been removed)